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Five Things AI: Iowa, Music, Humanity, EY, Creative Thinking
Are we all doomed? Read this issue of Five Things AI to find out!
Hi and welcome back to Five Things AI. My name is Nico Lumma and even though I have been working with and investing in tech startups for more than two decades, I still write this newsletter myself.
It’s been almost a year that OpenAI released ChatGPT-3 and kicked off a new wave of development in Artificial Intelligence. So now we have a global race to create the most powerful AI systems and so far it looks like the West is racing ahead, with the USA deploying the most capital at the moment. It will take a while until this wave cools off and plenty of investments will be written off - but those that succeed will most certainly rewrite the tech industry as we know it.
And it all started in Iowa.
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I always knew Des Moines was the epicenter of tech. No, actually I didn’t and I assume most people who live there didn’t know either. West Des Moines is where I spent my first weeks in the US as an exchange student before I moved to my American family in Des Moines. So, yes, this makes my Iowan heart beat with a bit of pride.
It’s amazing how fast AI is getting all the tools in place to fundamentally disrupt the music industry, again. Being an old-fashioned kind of guy, I still want real, handwritten music. So I’m looking forward to the release of Hackney Diamonds, assuming that this will be yet another wonderful set of songs written by The Glimmer Twins.
I don’t think we’re all doomed because of AI. But of course the author makes a good argument for better regulation and more caution when developing AI. He’s just a bit too alarmist, I hope.
While I think that $1.4 billion is an impressive number for an investment into AI for a single company, I’m really curious about what EY really wants to achieve with its own Large Language Model. This could be a very powerful tool for financial engineering for their clients, which is just a nice term for tax avoidance.
I admit that many of the texts I let ChatGPT-4 produce are very creative - in their interpretation of facts. Obviously, the development of GenerativeAI will lead to new challenges for college admissions offices and students alike.
That’s it for this week in Five Things AI - I hope you enjoyed it and it maybe even made you a bit smarter! Please invite your friends to subscribe to this newsletter!
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